AT&T Inc. is one of the world’s largest telecommunications holding companies and is the largest in the United States. Operating globally under the AT&T brand, AT&T companies are recognized as the leading world-wide providers of IP-based communications services to business and as the leading providers of high-speed DSL Internet, local and long distance voice, and directory publishing and advertising services in the Unites States. While companies such as Motorola, Ford, DuPont and Xerox have routinely benchmarked their manufacturing operations, AT&T with the help of the accounting firm Coopers & Lybrand has benchmarked its cash management operations. Operations benchmarked include cash positioning, cash concentration, cash mobilization funds transfer and cash transactions accounting. First, AT&T determined the areas to benchmark and the companies to benchmark against. Then, it determined the indicators that would be measured and collected data by interviewing other companies, conducting surveys, and reading technical journals and advertisements. It analysed the data and determined the best-in-the-class from each identified benchmark. AT&T then evaluated its progress against the benchmarks and decided on the best way to improve operations. As a result of its extensive benchmarking effort, AT&T increased automated clearinghouse usage, increased electronic data interchange/electronic funds transfer focus, enhanced training and education, created a quality consultant position, reduced management and staffing, consolidated operations and systems, combined banking and cash management functions, simplified its banking network and reduced the number of its bank accounts.

Questions

Identify and briefly describe the benchmarking steps which were taken by AT & T. 

Answer rating: 100% (QA)

ATT undertook a comprehensive benchmarking process to improve its cash management operations The benchmarking steps they took can be summarized as follows Identifying Areas to Benchmark and Benchmarki... View the full answer